DUTIES ACT 2001 - SECT 250 What is a loan
DUTIES ACT 2001 - SECT 250
What is a loan250 What is a loan
Each of the following is a
"loan" —
(a) an advance of money;
(b) the payment of money for or on account of, or at the request of, any person;
(c) a forbearance to require the payment of money owing on any account;
(d) any transaction, whatever its terms or form, that in substance effects a loan of money.